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Home > Event
Creation of a "Franco-Gabonese business council" at the service of Gabon's economic growth: new opportunities for economic investors
During his visit to Gabon, on 24 February 2010, President Sarkozy welcomed the measures taken and the objectives set, by his opposite number Ali Bongo Ondimba, for the emergence of Gabon. As the French Head of State announced during his speech in Libreville, the same day, France wishes to help to achieve these objectives by encouraging increased flows of French investments to Gabon. The setting up of a “Franco-Gabonese business council” offers an unusual framework for direct exchanges about Gabon’s priorities, investment opportunities and the business environment:
“The force of our relations cannot be measured solely by the yardstick of our cooperation and the relations between our governments. It also depends on the economic operators, that we have decided to rally in the service of investment, jobs and accelerating economic growth. Our Action plan has set itself the goal of encouraging the growth of French investment flows to Gabon.
In this respect, I decided it was desirable, and you agreed, to formalise the dialogue between French investors and the Gabonese authorities in the form of quarterly meetings. This new “Franco-Gabonese business council” offers an unusual framework for direct exchanges about Gabon's priorities, investment opportunities and the business environment.
It should guide and facilitate investment decisions and encourage French companies to be more active at the service of economic growth in Gabon. I have in mind those French companies are already established here, but also those not yet established. Almost 160 French companies are already developing industrial partnerships in Gabon, employing more than 10,000 people and achieving almost half the country’s exports. All your major infrastructure projects are followed by French corporations. They have to face keen competition, but who would complain of this, given that the rival parties are equally well armed?
In addition, this competition has the merit of showing that France and her companies have not inherited a privileged position, but that they have won it through merit. Mr President, you have made the creation of value added and diversification in Gabon the engines of growth, the priority objectives of your economic policy. These objectives, France wishes to help you to achieve them. By providing its expertise, when this is requested. Also by facilitating the granting of the appropriate private funding to French and Gabonese companies alike.
The transformation of local resources in the country, in particular manganese and wood, will be the subject of specific attention. Changes in the region’s forest coverage, with the recent launch of the building of a metallurgy plant in Haut-Ogooué, are already in evidence. I know that the same company is planning to extend its business activities beyond manganese. I would like it to do so with the participation of the government of Gabon in order to extend and strengthen the industrial partnership that already exists within COMILOG. This is another important aspect of our Action plan.
Building social progress
In the same way as the agreements we are signing, these investments in progress are the pledge of France’s determination to engage in the long-term alongside Gabon. Today I visited the Rougier plywood factory in Owendo, symbolic of the efforts this company has made in this domain. The certification process it has committed to is highly demanding. It responds to the long term objective of the sustainable exploitation of the Gabon rainforest, but also to an immediate objective in terms of social responsibility through accommodation, health and training. I know that like Rougier, other French operators in the wood sector are preparing to accelerate this local transformation process. They will be able to count on the support of the French government to do so.
These two topics, sustainable forest management and corporate citizenship, appear to me to be essential. They will be at the heart of the next Africa/France summit in May 2010. Mr President, during our first interview, just after you were elected, you advised me of your wish that the banks established in Gabon should make a greater contribution to funding the Gabonese economy.
Our action plan provides a swift answer to this concern, in the form of the engagement of collateral to provide the commercial banks with the resources to allow increased and more long-term funding of the economy. A memorandum of understanding will be signed today by AFD and BICIG. But I am aware that improving the available funding is not enough to accelerate investment. The quality of the demand from the SMEs must also be brought up to standard.
This is why our Action plan allows for the implementation of an improvement programme comparable to the programmes which have proven effective in the emerging countries.”
Legabon.org, 25 February 2010
“The force of our relations cannot be measured solely by the yardstick of our cooperation and the relations between our governments. It also depends on the economic operators, that we have decided to rally in the service of investment, jobs and accelerating economic growth. Our Action plan has set itself the goal of encouraging the growth of French investment flows to Gabon.
In this respect, I decided it was desirable, and you agreed, to formalise the dialogue between French investors and the Gabonese authorities in the form of quarterly meetings. This new “Franco-Gabonese business council” offers an unusual framework for direct exchanges about Gabon's priorities, investment opportunities and the business environment.
It should guide and facilitate investment decisions and encourage French companies to be more active at the service of economic growth in Gabon. I have in mind those French companies are already established here, but also those not yet established. Almost 160 French companies are already developing industrial partnerships in Gabon, employing more than 10,000 people and achieving almost half the country’s exports. All your major infrastructure projects are followed by French corporations. They have to face keen competition, but who would complain of this, given that the rival parties are equally well armed?
In addition, this competition has the merit of showing that France and her companies have not inherited a privileged position, but that they have won it through merit. Mr President, you have made the creation of value added and diversification in Gabon the engines of growth, the priority objectives of your economic policy. These objectives, France wishes to help you to achieve them. By providing its expertise, when this is requested. Also by facilitating the granting of the appropriate private funding to French and Gabonese companies alike.
The transformation of local resources in the country, in particular manganese and wood, will be the subject of specific attention. Changes in the region’s forest coverage, with the recent launch of the building of a metallurgy plant in Haut-Ogooué, are already in evidence. I know that the same company is planning to extend its business activities beyond manganese. I would like it to do so with the participation of the government of Gabon in order to extend and strengthen the industrial partnership that already exists within COMILOG. This is another important aspect of our Action plan.
Building social progress
In the same way as the agreements we are signing, these investments in progress are the pledge of France’s determination to engage in the long-term alongside Gabon. Today I visited the Rougier plywood factory in Owendo, symbolic of the efforts this company has made in this domain. The certification process it has committed to is highly demanding. It responds to the long term objective of the sustainable exploitation of the Gabon rainforest, but also to an immediate objective in terms of social responsibility through accommodation, health and training. I know that like Rougier, other French operators in the wood sector are preparing to accelerate this local transformation process. They will be able to count on the support of the French government to do so.
These two topics, sustainable forest management and corporate citizenship, appear to me to be essential. They will be at the heart of the next Africa/France summit in May 2010. Mr President, during our first interview, just after you were elected, you advised me of your wish that the banks established in Gabon should make a greater contribution to funding the Gabonese economy.
Our action plan provides a swift answer to this concern, in the form of the engagement of collateral to provide the commercial banks with the resources to allow increased and more long-term funding of the economy. A memorandum of understanding will be signed today by AFD and BICIG. But I am aware that improving the available funding is not enough to accelerate investment. The quality of the demand from the SMEs must also be brought up to standard.
This is why our Action plan allows for the implementation of an improvement programme comparable to the programmes which have proven effective in the emerging countries.”
Legabon.org, 25 February 2010
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